GDP size stands at Tk 34,840b at current prices in FY21

Staff Correspondent: The size of the Gross Domestic Product (GDP) in the last fiscal year (FY21) stood at Tk 34,840 billion at current prices as per the new base year of 2015-16.
The GDP growth of the country recorded 5.43 per cent also in the last fiscal year, according to the provisional estimation of the Bangladesh Bureau of Statistics (BBS).
The BBS data showed that the per capita income of the country in the last fiscal year (FY21) stood at $2,554 or Taka 2,16,589 which was $2,326 or Tk 1,97,199 in the previous fiscal year (FY20), according to the fresh base year of 2015-16.
The BBS has already completed the necessary works for updating the GDP base year from 2005-06 to 2015-16.
Revealing the latest provisional figures of the BBS which were also placed before the ECNEC meeting yesterday, Planning Minister MA Mannan said that the base year has been updated for which newer areas have been brought under the calculation.
“As a result, the overall GDP size has been increased as well as the per capita income,” he added.
He informed that the foreign currency reserves are nearing $50 billion while the country’s literacy rate above 15 years also reached 75.2 per cent. However, the poverty rate remains at 20.5 per cent while the life expectancy reached 72.8 years.
The Planning Minister informed that the GDP growth rate in the last fiscal year (FY21) reached 5.43 per cent which was the highest in this South Asian region despite the shocks of the COVID-19 pandemic.
The BBS data also showed that compared to the base year 2005-06 to 2015-16, the GDP size in current prices witnessed a 19.8 per cent increase in FY16 compared to the year 2015-16 to 2020-21, the GDP size over the last six years at current prices witnessed a 17 per cent increase.
Out of the overall GDP size of Tk 34,840 billion in FY21 at current prices, the share of the agriculture sector is Tk 4,061 billion, the industries sector Tk 11,362 billion while the services sector Tk 18,098 billion as per the fresh base year.
Meanwhile, if compared at constant prices, the GDP size in the last fiscal year stood at Tk 27,939 billion, according to the new base year. As per the fresh base year, the country’s investment ratio to GDP stood at 30.76 per cent, while the national savings ratio to GDP at 32.15 per cent.